On Friday, the campaign of John McCain continued its game of "he loves me, he loves me not" with the federal budget deficit. His chief economic adviser Douglas Holtz-Eakin pledged McCain would implement a balanced budget "by the end of his first term." Of course, that was a reversal of Holtz-Eakin's proclaimed target in April […]

In Martin County, Kentucky this week, John McCain added another one his "Forgotten Places" to the growing list of places his campaign would now like to forget. With a straight face, McCain told the residents of the economically devastated region that eBay represents their economic future. And he did so by appropriating the words of […]

Ever since Ronald Reagan famously asked Americans in 1980 if they were better off now than four years ago, answering the question has been a pre-requisite for aspiring White House hopefuls. This week, Republican nominee John McCain twice tried to supply a response when asked about the eight years of the Bush economy. His changing […]

As ABC News helpfully reminds us, April 15th is John McCain Tax Flip-Flop Day. McCain, as you'll recall, twice voted against President Bush's budget-busting tax cuts for the richest Americans who need them least. But having undergone a supply-side conversion on the road to the White House, John McCain now wants to make them permanent. […]

Three new surveys released today document the steep descent of President Bush, and with him, the American economy. While Bush's approval rating reached a new low of 28% in the AP poll, three quarters of economists surveyed by the Wall Street Journal believe that the United States is in a recession that has yet to […]

In order to secure the Republican presidential nomination, John McCain has reversed course on almost every issue he once held near and dear. Now with the general election contest underway, McCain is starting his predictable walk-back from the hard right abyss. Just days after proclaiming his adamant opposition to federal intervention in the housing market […]

Once in a rare while, a single image tells you everything to know about the American economy. On Wednesday, the New York Times featured a simple chart showing that President Bush has presided over the first post-World War II economic expansion in which Americans' median family income declined. If the American Dream is defined in […]

The American economy is in recession and according to Larry Kudlow, that is a cause for celebration. On Friday, the National Review regular and CNBC host praised three months of job losses as "an economic cleansing" and beamed that "recessions are therapeutic." And by all indications, Kudlow's prescription of an economic enema for the American […]

In the wake of the near-meltdown of the American financial system this week, economists are finally pointing the finger of blame at Alan Greenspan. As the Washington Post details, the former Fed Chairman once lauded as the "Maestro" is now facing withering criticism for helpful fuel the twin crises of the housing market and the […]

What a difference a week makes, especially when it comes to the rollercoaster American economy. No where is the impact of looming recession and the near-meltdown on Wall Street clearer than on the White House web site. Just days ago, the site boasted about President Bush's glorious stewardship of the U.S. economy. Now, the White […]